Rumble (NASDAQ:RUM) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Rumble to “sell” from “hold”, while Weiss Ratings reiterated its “sell (D-)” rating. MarketBeat data shows the stock has an average “Sell” rating.
• Rumble reported a quarterly loss of $0.28 per share, missing the $0.10-per-share consensus estimate, though revenue rose 61% year over year to $40.37 million and exceeded expectations.
• Rumble shares opened at $7.46, with a 12-month range of $4.62 to $10.54 and a market capitalization of approximately $3.25 billion; institutional investors own 26.15% of the company.

Rumble (NASDAQ:RUM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rumble in a research note on Friday, July 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rumble presently has an average rating of "Sell".

Rumble Stock Performance

Rumble stock opened at $7.46 on Friday. Rumble has a 12-month low of $4.62 and a 12-month high of $10.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 4.70. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -12.64 and a beta of 1.14. The firm's fifty day moving average price is $6.50 and its 200 day moving average price is $6.39.

Rumble (NASDAQ:RUM - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.18). The firm had revenue of $40.37 million during the quarter, compared to analysts' expectations of $31.23 million. Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business's quarterly revenue was up 61.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. On average, research analysts forecast that Rumble will post -0.22 EPS for the current fiscal year.

Institutional Trading of Rumble

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Rumble by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 322,245 shares of the company's stock valued at $1,643,000 after acquiring an additional 1,475 shares during the last quarter. Cetera Investment Advisers grew its holdings in Rumble by 9.5% during the 4th quarter. Cetera Investment Advisers now owns 23,396 shares of the company's stock worth $148,000 after acquiring an additional 2,032 shares in the last quarter. Bank of America Corp DE increased its position in shares of Rumble by 0.4% in the 2nd quarter. Bank of America Corp DE now owns 637,500 shares of the company's stock worth $5,725,000 after purchasing an additional 2,678 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Rumble by 47.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,254 shares of the company's stock worth $58,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Rumble by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 94,058 shares of the company's stock valued at $681,000 after purchasing an additional 3,008 shares in the last quarter. Institutional investors own 26.15% of the company's stock.

About Rumble

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company's primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source